News Formal

Ethereum: While “sell orders” dominate market, positive sentiment lingers

  • 📰 CryptoAmb
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 68%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

Most ETH traders have taken to distributing their holdings. The positive conviction still lingers as many anticipate the Shanghai Upgrade. On-chain assessment of the Net Taker Volume metric has revealed that following the recent rally in the price of Ethereum [ETH], traders have been exiting the market in large numbers, with the highest volume of […]

aggressiveness of market sellers and buyers for a specified crypto asset.

The metric calculates the difference between the ‘Taker Buy Volume’ and ‘Taker Sell Volume’ and provides insights into the behavior of market participants who use market orders. Market participants who use market orders are willing to buy or sell at any price, regardless of the cost or fees involved. However, their main priority is to exit their position, according to Maartunn.

With ETH’s Net Taker Volume at its deepest negative value since May 2022, “traders on Ethereum are escaping the market through market orders, which is pushing the price down,” Maartuun noted.“The strongest signal of the indicator is when prices are still relatively high, but Net Taker Volume is deeply red. And that is where Ethereum is currently.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 22. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ethereum market weakened, but benefits can be made at these levelsDisclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion ETH was in a bearish structure at press time. Further plunge could be likely if BTC drops below the $21K zone. Ethereum [ETH] plunge could extend if the $1,540 support fails to hold. However, […] I can afford to move my ERC20 coins for one. gwei
Source: CryptoAmb - 🏆 22. / 68 Read more »